Finance (Income Taxes) Bill · cl 49

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In the MMTA, in section 84 —(a)in subsection (1), after paragraph (l), insert —“(la)for the purposes of implementing Singapore’s obligations under the Multilateral Competent Authority Agreement on the Exchange of GloBE Information developed by the Organisation for Economic Co‑operation and Development (OECD);”;(b)after subsection (2), insert —“(3) Regulations made for the purposes of subsection (1)(l) may do so by reference to a webpage that is accessible from a prescribed Internet website of the Organisation for Economic Co‑operation and Development (OECD) (as amended from time to time), and regulations made in this manner may be made to apply in relation to each financial year of an MNE group beginning on or after 1 January 2026.”;(c)after subsection (3) (as inserted by paragraph (b)), insert —“(4) Regulations made for the purposes of subsection (1)(la) may be made to apply in relation to information contained in a GloBE information return of a registered MNE group filed with the Comptroller under section 40(1) for any of its financial years beginning on or after 1 January 2025, or a subsequent financial year.”; and(d)after subsection (4) (as inserted by paragraph (c)), insert —“(5) Regulations made for the purposes of section 30(7) and paragraph 6 of the First Schedule (including that paragraph as applied by sections 9(3) and (4) and 30(7)) may be made to apply in relation to each financial year of an MNE group beginning on or after 1 January 2025.”.

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cl 49Amendment of section 84

In the MMTA, in section 84 —

(a)

in subsection (1), after paragraph (l), insert —“(la)for the purposes of implementing Singapore’s obligations under the Multilateral Competent Authority Agreement on the Exchange of GloBE Information developed by the Organisation for Economic Co‑operation and Development (OECD);”;

(b)

after subsection (2), insert —“(3) Regulations made for the purposes of subsection (1)(l) may do so by reference to a webpage that is accessible from a prescribed Internet website of the Organisation for Economic Co‑operation and Development (OECD) (as amended from time to time), and regulations made in this manner may be made to apply in relation to each financial year of an MNE group beginning on or after 1 January 2026.”;

(c)

after subsection (3) (as inserted by paragraph (b)), insert —“(4) Regulations made for the purposes of subsection (1)(la) may be made to apply in relation to information contained in a GloBE information return of a registered MNE group filed with the Comptroller under section 40(1) for any of its financial years beginning on or after 1 January 2025, or a subsequent financial year.”; and

(d)

after subsection (4) (as inserted by paragraph (c)), insert —“(5) Regulations made for the purposes of section 30(7) and paragraph 6 of the First Schedule (including that paragraph as applied by sections 9(3) and (4) and 30(7)) may be made to apply in relation to each financial year of an MNE group beginning on or after 1 January 2025.”.